Bitget, the world’s largest Universal Exchange (UEX), has rapidly scaled its UEX model, according to a recent Messari Research report. Cumulative tokenized stock futures volume reached approximately $18 billion by December 2025, while institutional traders accounted for 82% of spot trading volume, signaling a structural shift toward professional, cross-asset participation.
Since launching tokenized stocks in July 2025, trading activity has surged. November alone saw $13.6 billion in futures volume, while December spot trading approached $1 billion, representing 89% of Ondo’s tokenized stock volume. The data highlights global demand for on-chain access to traditional equities beyond legacy market constraints.
Bitget’s UEX integrates centralized spot and derivatives trading, on-chain asset access, and AI-assisted execution in a single platform. Tokenized stocks are available 24/5, enabling investors worldwide to respond to earnings, macro events, and market volatility outside U.S. hours. 39.6% of trading originates in East Asia, with growing participation from Latin America, Southeast Asia, and Europe.
Major U.S. equities dominate activity, with Tesla leading at $6.3 billion, followed by Meta, MicroStrategy, Apple, and Google, collectively generating $6.6 billion. This demand is driven by earnings-driven volatility, leveraged strategies, and appetite for AI- and macro-sensitive stocks.
Bitget Onchain, launched April 2025, has generated over $2.4 billion in cumulative trading volume across Solana, BNB Chain, Ethereum, Base, and Morph, demonstrating growing cross-chain adoption. Institutional participation remains a key driver: institutional share of spot volume rose from 39.4% to 82%, and institutional market makers represent 60% of futures activity, improving liquidity and execution quality.
Messari concludes that Bitget’s UEX model exemplifies a consolidation of trading infrastructure, combining digital assets, tokenized real-world assets, and institutional liquidity within a single execution environment, reshaping global capital access.
Full report: Messari Research – Bitget UEX